Daily Standup Top Stories
Opinion: We’re very far off course in meeting global climate goals. Get ready for Plan B
When a modified Korean War-era aircraft bearing an unusual payload began crisscrossing the skies over Alaska in March, it opened a new frontier in the fight against climate change. During a dozen flights in a […]
Biden admin pledges $520 million to make Ukraine’s energy infrastructure ‘cleaner, more resilient’
ENB Pub Note: This is despicable and shows and utter contempt for the U.S. Citizens and taxpayers. Make no mistake: Ukraine is a crime scene. The secretary also said the U.S. is investing $665.5 […]
Irate family called police on Jennifer Granholm’s team for blocking charging station spot for her electric car
Watch the latest video at foxnews.com Biden Energy Secretary Jennifer Granholm had a rocky electric vehicle tour that included a confrontation with a family who called the police on her staff over a charging station standoff. […]
Russia will sell natural gas to China at almost a 50% discount compared to European buyers
Russia expects to sell gas to China at almost half the price compared to European buyers, Bloomberg reported. Gas for China will average $271.6 per 1,000 cubic meters in 2024, versus $481.7 for buyers in […]
Russian Budget Swings to Surplus Despite Plunging Energy Revenue
Russia’s budget moved back into the black last month, as the government dials back spending and a surge in non-oil income makes up for a drop in energy revenues. The surplus in August reached almost […]
The wind and solar power myth has finally been exposed – The consumers are paying the higher costs for kWh through taxes, subsidies and grid problems
Many governments in the Western world have committed to “net zero” emissions of carbon in the near future. The US and UK both say they will deliver by 2050. It’s widely believed that wind and […]
Highlights of the Podcast
00:00 – Intro
03:57 – Opinion. We are going very far off course meeting global climate goal. Get ready for plan B
05:56 – Biden admin pledges $520 million to make Ukraine’s energy infrastructure ‘cleaner, more resilient’
07:23 – Irate family called police on Jennifer Granholm’s team for blocking charging station spot for her electric car
09:41 – Russia will sell natural gas to China at almost 50% discount compared to European buyers
11:32 – Russian budget swings to the surplus despite plunging energy revenues
13:32 – Markets Update
14:13 – New joint venture from Diamondback and Five Point Energy
16:15 – Outro
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Michael Tanner: [00:00:15] What is going on, everybody? Welcome into another edition of the Daily Energy News Beat Standup here on this gorgeous Tuesday, September 12th, 2023. As always, I’m your humble correspondent Michael Tanner, coming to you from an undisclosed location here in Dallas, Texas, joined by the executive producer of the show, the purveyor of the show and the director, publisher of the world’s greatest website, Energy News Beat Stuart Turley, My man. How we doing? [00:00:39][24.4]
Stuart Turley: [00:00:39] Today is a beautiful day, our neighborhood. And I’m exhausted. What a great. [00:00:42][3.2]
Michael Tanner: [00:00:43] Day. You had an absolutely fantastic day. A lot of podcasting is like you’re what, six, six podcasts of the day? [00:00:48][5.2]
Stuart Turley: [00:00:49] Unbelievable. Unbelievable. I got to give a shout out to Jeff Crilly over there, Real News Media. It was shout out to Combo Curve. We got Dan. It is a heck of a show out there. [00:01:00][11.0]
Michael Tanner: [00:01:00] Yeah, we’ll tease that a little bit down the road. Great episode with Combo Curve, a lot of cool stuff coming up with them. We love them over there, guys, so we appreciate everybody over there at Combo for helping us out. But we have an absolutely fabulous show lined up. Stu does not disappoint. I mean, some pretty crazy stories, guys, right now. First off, we’ll start off with an opinion article. We are very far off from meeting our climate bulls. Get ready for plan B. Dun dun dun. Love that. Next up, Biden admin pledges 520 million to make Ukraine’s energy infrastructure cleaner and more resilient. I’ve never heard more of an oxymoron in my life. Next up, this is probably my favorite article so far that we’ve done in the next few weeks. Irate family called police on Jennifer Granholm steam for blocking charging stations by Pro Electric Car. This is right out of an episode of the folks. This is it’s unbelievable. What just happened is this will cover everything that’s going on with Graham Hill’s attempted EV drive down to Florida. Next up, Russia will sell its natural gas to China at almost a 50% discount compared to its European buyers. And finally, Russian budget swing to surplus despite plunging energy revenue. Still then kick it over to me. I’ll quickly cover what went on. The oil and gas markets stay a little flat overall for oil. We did see Nasdaq rise about a percent and a half spy fairly flat at then. I will quickly cover a joint venture that happened Deep Blue, which is our water midstream solution out there from a private equity company, five Point and the Diamondbacks all will read some of the top line information there. Anyway, let’s get out of here, get back to work and start your day before we do all that. Guys, remember all of this analysis and stories are courtesy the world’s greatest website www.energynewsbeat.com. Go ahead and hit the description below you’ll be able to see the timestamps and have links to all of the articles if you haven’t already. You can subscribe to a Spotify, Apple podcast. Subscribe to us on YouTube at Energy News Beat the best place to support the show. Go hit that bar was a 16 year old YouTuber. Stu I would say smash that like, but but I won’t. So just go ahead, check us out that we appreciate everybody who has subscribed. You can interact with the show questions@energynewsbeat.com or hit the link below. Check us out. Dashboard@EnergyNewsBeat.com It’s our data energy news combo. Trying to kind of put it all into one little product for you guys still in in beta mode. So it’s free right now, but it’s going behind a paywall soon. Team is hard at work at the V2 I’m going to bet those do. We got a banger show. Where do we want to begin? [00:03:32][151.5]
Stuart Turley: [00:03:32] Oh hey, let’s start out with we get to set the tone. We’re going to wheel around the world here. We’re going to go, Where’s Climate? We’re off course a little bit. Biden administration then doing something stupid, then his energy secretary knocking it out of the park even further. And then we’re going to swing over to Russia just because we can. Okay, here we go. Let’s start over here. Option opinion. We are going very far off course meeting global climate goal. Get ready for plan B. Michael, you’re not going to believe what plan B is. Unbelievable. The goal. They’ve got a Korean War plane that’s on the cover of this article. It’s going around trying to get things up in the skies over Alaska in March. It’s trying to spend 60 hours collecting trace gases in the atmosphere so they can get baseline. Okay, now let’s go here. In the next they got the baseline. [00:04:35][62.6]
Michael Tanner: [00:04:35] I see where this is going. [00:04:36][0.8]
Stuart Turley: [00:04:37] Plan B, Hail Mary, attempt to cool the atmosphere by injecting aerosols two miles above the Earth’s surface to reflect some sweet paste. Holy smokes, are we idiots? [00:04:53][15.6]
Michael Tanner: [00:04:54] And to think this is like to think this is crazy. This was a Los Angeles Times opinion article. The guy who wrote This name’s Edwin Chen. This is some crack pipe website. We found this on the L.A. Times, folks is calling for plan. [00:05:10][16.3]
Stuart Turley: [00:05:11] Be nice to know we are shoot us. But unfortunately, he’s in the third world country. A California one in a spa gets me worked up. Let’s use slash our use of gas, oil and coal. Okay. All right. What are you going to do in the meantime? Why is Germany going back to coal? Why is Germany getting rid of their nuclear. Because we’re stupid. Sorry. Yeah. [00:05:37][25.9]
Michael Tanner: [00:05:37] Hey, I’m all about thinking outside the box. I think injecting aerosols into the atmosphere is going to have some unintended consequences that we may or may not be able to figure out for. We just start shooting this stuff kind of like the vaccine, but we want to be able to stay on YouTube. So what do we next do? [00:05:52][14.9]
Stuart Turley: [00:05:52] Okay, this one’s going to follow along with the theme we’ve got here. The Biden Mental Cram for Administration Biden Admin pledges 520 million to make Ukraine’s energy infrastructure cleaner and more resilient. An African war zone. How do you make one nuclear plant held by the Russians? Right now? Their grid is blowed up, as they would say in Texas. And I’m sitting here going at the Ukraine recovery conference held in London a few months ago. I pledge the U.S. would invest more than 520 million, making Ukraine’s energy infrastructure. More than half has been destroyed by Russia, cleaner and more resilient. What part of this does not make sense? They’re going to try to plugging in renewables. They need storage or they’re going to need more grid. That 512 is going to turn into 4 billion. I guarantee. [00:06:53][60.1]
Michael Tanner: [00:06:53] It. It’s the ability for solar power tanks to I mean, you they they they use solar tanks, right? [00:06:59][5.3]
Stuart Turley: [00:06:59] We Oh, we love that. We love that one. Can you imagine pulling up in a Abrams M-1 tank? You know. [00:07:06][7.2]
Michael Tanner: [00:07:07] It’s got a battery, but you’re pulling six batteries behind you. [00:07:10][2.8]
Stuart Turley: [00:07:10] Okay, this one’s great. Let’s continue on with our beloved president’s administration. We’re striking just a beautiful blow. [00:07:19][8.6]
Michael Tanner: [00:07:19] This could be story of this is an early candidate for story of the modern. [00:07:22][3.1]
Stuart Turley: [00:07:23] Idiot irate family called Jennifer Granholm steam for blocking a charging station spot for her national car. And Michael, there’s two other stories to go along with this, but we’re not yet good NPR. We know how they NPR is like on your left hand, way left, take your neighbor’s hand. And that’s how far left they are. They said it was a bad trip. They were even in in the next caller. So here, here’s what happened. They went on a four day trip across part of the U.S. to try to prove a four day trip from North Carolina to Tennessee was intended to draw attention to the billions of dollars the White House is pouring into green energy and clean car. Oops, she painted this part. She painstakingly mapped out ahead of time to allow for charging. Well, they had staffers go around and park their cars in there and a woman was pregnant in the heat trying to turn her car. And the staffer said no. So she called the police. This is that it’s comical. [00:08:32][69.2]
Michael Tanner: [00:08:33] It’s it’s it’s comical that they fully understood. Hey, you know, it’s just comical to think that they understood the issue of, hey, we’re going to have to go block these charging points because there’s not enough I mean, I know they’re investing more in charging points, but it goes to show you the number of charging points needed to go long distances is so many. [00:08:54][22.0]
Stuart Turley: [00:08:55] And NPR said we went up to charging stations. They were either broken out of order or too expensive, and it was like, holy smokes, they sure they did a Dick Cheney on them. So she shot herself in the foot in the spray, got Biden. Go figure that out. Yeah, I don’t get it. Where was the bear, Pete, during this? This is transportation. [00:09:18][22.4]
Michael Tanner: [00:09:19] Maternity leave. What’s next. [00:09:20][1.3]
Stuart Turley: [00:09:21] For me? Okay, we’re going to step away and we’re going to fly over the world and we’re going to go visit my buddy Michael saying, you know, that’s a cross between Fonzie and The Sopranos. It was way. [00:09:34][12.7]
Michael Tanner: [00:09:34] More Fonzie than it is, but. [00:09:35][1.5]
Stuart Turley: [00:09:36] It is it’s pretty sad. I’m going to get let me get my leather coat anyway. Okay. Russia will sell natural gas to China at almost 50% discount compared to European buyers. Michael, we talked about that. Right now, the price that UK and EU are paying is around that 11 to $14 range right now for gas. We’re paying what’s our gas today? I didn’t check. I’ve been busy. It’s like. [00:10:02][25.6]
Michael Tanner: [00:10:02] Three feet. Oh, gas. Natural gas is $2.60. [00:10:04][2.0]
Stuart Turley: [00:10:06] How much? [00:10:06][0.2]
Michael Tanner: [00:10:06] $3.60. [00:10:06][0.0]
Stuart Turley: [00:10:08] Okay, great. So is there half of that? Still getting a deal at $7, right? $6. Right. Mm hmm. We’re making a lot of money by selling around the world on that market. Even at 50%. [00:10:21][13.5]
Michael Tanner: [00:10:22] Yeah, it’s. I mean, what what Russia’s clearly doing is they’re trying to set an alliance with China in the hopes that China will support them going forward because they feel like they’re going to be in a conflict with Ukraine for a while. The United States has clearly shown themselves to be on the side of the Ukraine, will continue to fund them as long as possible. Don’t agree with that. But I think that’s what Putin is thinking. And I think he’s saying, hey, if I can make good and make good with Ping, this allows me to continue whatever I’m doing and know that my largest export will continue to sell. Because think about it, Stu. What’s the next article you’ve got? Right. [00:10:56][33.4]
Stuart Turley: [00:10:56] Let me just add that right. Hold that thought. Guess who didn’t show up to the G20? Putin Embassy? Oh, they didn’t show up. You know why? [00:11:06][10.0]
Michael Tanner: [00:11:07] They had their own G2 summit. [00:11:08][1.0]
Stuart Turley: [00:11:09] They had BRICS just had BRICS, baby. They just got Saudi Arabia, BRICS, big banks, BRICS, and then the BRICS were. Okay, I got to go. [00:11:19][10.9]
Michael Tanner: [00:11:20] We just got to cut to this story right there in the final articles, too, because it ties Russia. It’s pretty crazy to think about what’s happening. If they cannot, they can cut they can do what they did in the last article and do what they’re about to do in this sort of crazy. [00:11:31][11.9]
Stuart Turley: [00:11:32] Russian budget swings to the surplus despite plunging energy revenues. And this is just amazing. Move back into the black last month. Here we are in September and they went black. And I mean that it’s a couple of months later than they thought, but they are. The surplus reached 456 billion rubles in one of the largest monthly holes this year. People are buying energy. [00:12:06][34.0]
Michael Tanner: [00:12:08] Yup. It’s it’s absolutely insane. And I think the the craziest part is too, that they can continue to make moves and undercut the market to sell their product at the lowest possible at the lowest possible price and continue to balance their budget. It’s proof that I mean, what are they going to do? They’ve gone to a gold standard. It’s interesting how resilient a gold standard has been. [00:12:29][21.2]
Stuart Turley: [00:12:29] Absolutely. And it’s because there’s only what is it, 1% gold coming up out of the ground every year. [00:12:36][6.3]
Michael Tanner: [00:12:36] It’s about I mean, it’s one of them. It’s one of the fewest supply increases of I mean, it’s like the. [00:12:42][5.2]
Stuart Turley: [00:12:42] Dollar, right? Yeah. You print more. So when you sit back and tape, take a look. The two largest countries of gold ownership are in there with the U.S., China and Russia. We’re not backed by gold. And then there’s room. There’s a conspiracy theory out there that we had all our stolen. But I’m not even going to touch that one. Who knows? [00:13:04][22.8]
Michael Tanner: [00:13:05] And shocker, Stuart, the conspiracy theory. [00:13:07][1.7]
Stuart Turley: [00:13:07] Oh, hey, I used to be just non conspiracy theory until now, so who knows? [00:13:12][5.1]
Michael Tanner: [00:13:13] Love it. What else you got? [00:13:14][0.8]
Stuart Turley: [00:13:14] That’s it. Just our people. Our administration is just absolutely s and nine. And they are they unbelievable. [00:13:25][10.7]
Michael Tanner: [00:13:26] That you can. You can say that you can. You can say that again. You cut a. [00:13:31][5.0]
Stuart Turley: [00:13:31] Nine. [00:13:31][0.0]
Michael Tanner: [00:13:32] We’ll quickly cover what happened in the oil and gas finance market guys, ESP we traded up about 6/10 of a percentage point. Nasdaq up 1.9 percentage points. Dollar index drops about half a percentage point, leading to basically a flat crude oil day, up about a 10th of a percentage point, currently trading 8733 is a record. This about 630 natural gas drop to $2.61. The XLP, which is our oilfield contract, did drop about two percentage points or a wage which is our oilfield services contract did go ahead and actually rise about a 10th of a percentage point. So again, you kind of see that the happenings of what’s going on around tomorrow, we will see what the API predicts. I thought the only other interesting thing was we did see a new joint venture from Diamondback and five Point Energy. This is Deep Blue Midland. We’ll just go and call them Deep Blue. This strategic joint venture goes ahead and creates the largest independent water infrastructure company in Midland Basin. To give you guys an idea, they’ve got over 800 miles of gathering transport pipelines. They permitted to dispose about 2 million barrels per day with over 65 million barrels of water storage. They’ve got some pretty extensive recycling facilities and they’re able to dedicate and take basically all of Diamondbacks water. They’ve gone ahead and entered into a 15 year agreement with Diamondback and just to basically take all of their produce and supply water within a 12 county area of mutual interest. They’re going to retain a 30% equity interest in deep blue and get about 500 million in cash up front, which comes from five points energy or five point energy, which is a private equity company, and who’s then going to both each of them, probably over the next 12 months, as it looks like, will contribute about 500 million. So it’s a pretty. Crazy, crazy, crazy water deal going on. And this really establishes, as it says, the largest independent water player in that move. And it is and it brings and it highlights something that I think everybody is is worried about as these wells become less and less productive, you still get the same amount of fluids. Do you just have a less oil cut, which means. More water. And I think these companies are that’s they are thinking long term are starting to worry about this. I mean we know pioneer is is you know they’re produced why they have some of the they manage most I think the most produced water in all of the Midland are all that Midland Basin right there. They’re stripping their water for lithium and trying to sell that lithium on the open market. I mean, it’s incredible. I think there’s a lot of interesting things that could happen here. But but, you know, interesting to see this happen. And for sure, I think a sign of two companies are specifically Diamondback thinking extremely long term. [00:15:59][147.2]
Stuart Turley: [00:16:00] I love the stripping for lithium. I think that that is absolutely phenomenal. [00:16:05][5.0]
Michael Tanner: [00:16:06] They’re going to be able to give them 500,000 barrels of water per day of recyclable that they can use for completion. So, I mean, a good move for Diamondback. We love this. [00:16:13][7.2]
Stuart Turley: [00:16:13] I think it’s fantastic. Well. [00:16:15][1.2]
Michael Tanner: [00:16:15] What else to boil it then? People go. [00:16:17][1.6]
Stuart Turley: [00:16:17] Oh, I’ll tell you what, it is just absolutely bonkers out there. You know, buckle up. It’s going to get entertaining. [00:16:24][7.0]
Michael Tanner: [00:16:25] Buckle up, buckaroos. Well, with that, guys, we’ll let you get out of here. Get back to work. We appreciate you guys. Checking this out. World’s greatest podcast energy news beat daily standup, Stuart. Hello, Michael Tanner. We’ll see you tomorrow, folks. [00:16:25][0.0][938.0]
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